India Auto Market Share by Manufacturer — and Who Is Gaining
Manufacturer share of every major segment for Jan–Sep 2026, with the year-on-year move in percentage points against the same months of 2025. Hero MotoCorp 25.93% of two-wheelers.
✦ Auto Registration Pulse — September 2026
- 🚗 India registered 25,67,916 vehicles in September 2026 — up 4.2% MoM and up 33.0% vs Sep 2025.
- 🏍️ Two-wheelers: 17,98,913 units, up 33.7% YoY — 1,77,09,184 so far in 2026.
- 🚙 Cars: 3,96,307 registrations, up 33.7% YoY; 2026 YTD is up 23.1% (Jan–Sep).
- ⚡ Electric: 3,36,963 EVs — an all-time monthly record, up 75.9% YoY — 13.1% of the month's registrations.
- 📈 October so far: 13,18,729 registrations logged (RTO data posts with a few days' lag).
Segment size — 2026 Jan–Sep
Registrations by segment, built from Vahan vehicle classes
How concentrated is each segment?
Combined share of the top three manufacturers — higher means fewer players matter
Two-wheeler share shift — 2026 vs 2025
Change in share of the two-wheeler market, in percentage points
Car & UV share shift — 2026 vs 2025
Change in share of the private car market, in percentage points
Motorcycles, scooters, mopeds and hire two-wheelers — roughly three quarters of every vehicle registered in India. Segment total 1.68 Cr units, +22.0% vs 2025.
| # | Manufacturer | 2026 units | 2026 share | 2025 share | Share change |
|---|---|---|---|---|---|
| 1 | Hero MotoCorp | 43,48,312 | 25.93% | 28.17% | ▼ 2.25pp |
| 2 | Honda 2W (HMSI) | 42,53,108 | 25.36% | 25.11% | ▲ 0.24pp |
| 3 | TVS Motor | 33,17,872 | 19.78% | 18.62% | ▲ 1.17pp |
| 4 | Bajaj Auto | 17,13,333 | 10.22% | 10.74% | ▼ 0.52pp |
| 5 | Suzuki 2W | 9,24,285 | 5.51% | 5.50% | ▲ 0.01pp |
| 6 | Royal Enfield | 9,04,587 | 5.39% | 5.12% | ▲ 0.27pp |
| 7 | Yamaha India | 5,90,644 | 3.52% | 3.31% | ▲ 0.21pp |
| 8 | Ather Energy | 2,61,397 | 1.56% | 1.03% | ▲ 0.53pp |
| 9 | Ola Electric | 1,07,584 | 0.64% | 0.97% | ▼ 0.33pp |
| 10 | Greaves Electric | 72,058 | 0.43% | 0.27% | ▲ 0.16pp |
Vahan reports manufacturer volumes only as a full-year figure, so the 2025 column is scaled to the same 9 months (Jan–Sep) using that segment's own monthly profile — 0.654 of the full 2025 year.
Privately registered cars and utility vehicles. Excludes taxis, which Vahan books separately as Motor Cab. Segment total 36.37 L units, +23.1% vs 2025.
| # | Manufacturer | 2026 units | 2026 share | 2025 share | Share change |
|---|---|---|---|---|---|
| 1 | Maruti Suzuki | 13,63,353 | 37.49% | 37.58% | ▼ 0.09pp |
| 2 | Mahindra | 4,59,870 | 12.64% | 12.97% | ▼ 0.33pp |
| 3 | Tata Motors (PV) | 4,37,342 | 12.02% | 11.96% | ▲ 0.07pp |
| 4 | Hyundai | 4,25,554 | 11.70% | 12.82% | ▼ 1.12pp |
| 5 | Toyota Kirloskar | 2,43,880 | 6.71% | 7.13% | ▼ 0.43pp |
| 6 | Kia India | 2,40,647 | 6.62% | 6.26% | ▲ 0.35pp |
| 7 | Tata Motors (EV) | 99,009 | 2.72% | 1.68% | ▲ 1.04pp |
| 8 | Skoda | 80,636 | 2.22% | 2.68% | ▼ 0.47pp |
| 9 | MG Motor | 59,165 | 1.63% | 1.66% | ▼ 0.04pp |
| 10 | Mahindra Electric Automobile | 55,005 | 1.51% | 0.71% | ▲ 0.80pp |
| 11 | Honda Cars | 47,208 | 1.30% | 1.48% | ▼ 0.18pp |
| 12 | Renault India | 33,823 | 0.93% | 0.83% | ▲ 0.10pp |
| 13 | Nissan India | 24,835 | 0.68% | 0.51% | ▲ 0.17pp |
| 14 | BMW India | 15,459 | 0.43% | 0.41% | ▲ 0.01pp |
| 15 | Mercedes-Benz | 12,903 | 0.35% | 0.42% | ▼ 0.07pp |
Vahan reports manufacturer volumes only as a full-year figure, so the 2025 column is scaled to the same 9 months (Jan–Sep) using that segment's own monthly profile — 0.692 of the full 2025 year.
Passenger and goods three-wheelers including e-rickshaws, the most electrified segment on Indian roads. Segment total 11.13 L units, +16.0% vs 2025.
| # | Manufacturer | 2026 units | 2026 share | 2025 share | Share change |
|---|---|---|---|---|---|
| 1 | Bajaj Auto | 4,07,058 | 36.57% | 36.41% | ▲ 0.15pp |
| 2 | Mahindra Last Mile | 1,07,826 | 9.69% | 7.60% | ▲ 2.08pp |
| 3 | Piaggio | 81,160 | 7.29% | 6.67% | ▲ 0.62pp |
| 4 | TVS Motor | 58,563 | 5.26% | 3.63% | ▲ 1.63pp |
| 5 | Atul Auto | 26,417 | 2.37% | 2.24% | ▲ 0.13pp |
| 6 | YC Electric | 19,775 | 1.78% | 3.02% | ▼ 1.25pp |
| 7 | Dilli Electric | 14,956 | 1.34% | 1.61% | ▼ 0.26pp |
| 8 | Saera Electric | 14,429 | 1.30% | 1.82% | ▼ 0.52pp |
| 9 | J. S. Auto | 10,935 | 0.98% | 0.91% | ▲ 0.07pp |
| 10 | Zeniak Innovation India | 10,493 | 0.94% | 0.98% | ▼ 0.04pp |
| 11 | Mini Metro EV | 10,370 | 0.93% | 0.96% | ▼ 0.03pp |
| 12 | Hooghly Motors | 8,758 | 0.79% | 0.59% | ▲ 0.20pp |
| 13 | Energy Electric Vehicles | 7,825 | 0.70% | 0.94% | ▼ 0.24pp |
| 14 | Aahana Commerce | 7,534 | 0.68% | 0.60% | ▲ 0.08pp |
| 15 | Mlr Auto | 7,132 | 0.64% | 0.50% | ▲ 0.14pp |
| 16 | Sks Trade India | 6,882 | 0.62% | 0.72% | ▼ 0.10pp |
| 17 | Omega Seiki | 6,872 | 0.62% | 0.50% | ▲ 0.12pp |
| 18 | Terra Motors India | 6,665 | 0.60% | 0.77% | ▼ 0.17pp |
| 19 | Unique International Ev | 6,418 | 0.58% | 0.82% | ▼ 0.25pp |
| 20 | Hotage India | 6,021 | 0.54% | 0.69% | ▼ 0.15pp |
Vahan reports manufacturer volumes only as a full-year figure, so the 2025 column is scaled to the same 9 months (Jan–Sep) using that segment's own monthly profile — 0.704 of the full 2025 year.
Agricultural and commercial tractors — a rural-demand indicator that moves with the monsoon rather than with the rest of the auto market. Segment total 8.41 L units, +21.5% vs 2025.
| # | Manufacturer | 2026 units | 2026 share | 2025 share | Share change |
|---|---|---|---|---|---|
| 1 | Mahindra Tractors | 1,94,933 | 23.17% | 23.52% | ▼ 0.35pp |
| 2 | Swaraj (M&M) | 1,57,574 | 18.73% | 18.44% | ▲ 0.29pp |
| 3 | Sonalika (ITL) | 1,12,626 | 13.39% | 12.83% | ▲ 0.56pp |
| 4 | TAFE | 96,999 | 11.53% | 11.06% | ▲ 0.46pp |
| 5 | Escorts Kubota | 90,407 | 10.74% | 10.52% | ▲ 0.22pp |
| 6 | John Deere | 60,300 | 7.17% | 7.42% | ▼ 0.25pp |
| 7 | Eicher (VECV) | 52,924 | 6.29% | 6.28% | ▲ 0.01pp |
| 8 | CNH Industrial | 39,710 | 4.72% | 4.30% | ▲ 0.42pp |
| 9 | John Deere | 8,228 | 0.98% | 1.09% | ▼ 0.12pp |
| 10 | Mahindra | 6,706 | 0.80% | 1.35% | ▼ 0.56pp |
| 11 | Gromax Agri Equipment | 3,731 | 0.44% | 0.39% | ▲ 0.06pp |
| 12 | V.S.T. Tillers Tractors | 2,229 | 0.26% | 0.40% | ▼ 0.14pp |
| 13 | Kubota | 1,558 | 0.19% | 0.89% | ▼ 0.70pp |
Vahan reports manufacturer volumes only as a full-year figure, so the 2025 column is scaled to the same 9 months (Jan–Sep) using that segment's own monthly profile — 0.685 of the full 2025 year.
Trucks and light commercial goods vehicles — the freight-demand read inside the registration data. Segment total 8.01 L units, +24.8% vs 2025.
| # | Manufacturer | 2026 units | 2026 share | 2025 share | Share change |
|---|---|---|---|---|---|
| 1 | Tata Motors | 2,71,560 | 33.89% | 32.85% | ▲ 1.04pp |
| 2 | Mahindra | 2,19,678 | 27.41% | 29.40% | ▼ 1.99pp |
| 3 | Ashok Leyland | 1,46,497 | 18.28% | 17.84% | ▲ 0.44pp |
| 4 | VECV (Eicher) | 60,647 | 7.57% | 7.27% | ▲ 0.30pp |
| 5 | Maruti Suzuki | 34,227 | 4.27% | 4.60% | ▼ 0.33pp |
| 6 | Mahindra Last Mile | 17,258 | 2.15% | 2.25% | ▼ 0.09pp |
| 7 | Daimler India CV | 16,089 | 2.01% | 1.93% | ▲ 0.08pp |
| 8 | Euler Motors | 5,921 | 0.74% | 0.12% | ▲ 0.62pp |
| 9 | Local Trailer Manufacturer | 4,588 | 0.57% | 0.56% | ▲ 0.01pp |
| 10 | Others | 4,198 | 0.52% | 0.97% | ▼ 0.45pp |
| 11 | SML Mahindra | 3,230 | 0.40% | 0.41% | ▼ 0.01pp |
Vahan reports manufacturer volumes only as a full-year figure, so the 2025 column is scaled to the same 9 months (Jan–Sep) using that segment's own monthly profile — 0.704 of the full 2025 year.
Stage carriage, contract carriage, school and institutional buses. Segment total 1.04 L units, +1.4% vs 2025.
| # | Manufacturer | 2026 units | 2026 share | 2025 share | Share change |
|---|---|---|---|---|---|
| 1 | Tata Motors | 33,767 | 32.58% | 30.09% | ▲ 2.49pp |
| 2 | Force Motors | 16,318 | 15.75% | 14.69% | ▲ 1.05pp |
| 3 | Ashok Leyland | 16,115 | 15.55% | 18.28% | ▼ 2.74pp |
| 4 | VECV (Eicher) | 13,535 | 13.06% | 14.54% | ▼ 1.48pp |
| 5 | SML Mahindra | 7,772 | 7.50% | 6.60% | ▲ 0.90pp |
| 6 | Mahindra | 5,359 | 5.17% | 5.39% | ▼ 0.22pp |
| 7 | Toyota Kirloskar | 2,184 | 2.11% | 3.40% | ▼ 1.30pp |
| 8 | Daimler India CV | 1,781 | 1.72% | 1.87% | ▼ 0.15pp |
| 9 | JBM Auto | 1,288 | 1.24% | 0.80% | ▲ 0.44pp |
| 10 | Switch Mobility | 1,074 | 1.04% | 0.75% | ▲ 0.29pp |
| 11 | Olectra Greentech | 1,055 | 1.02% | 0.90% | ▲ 0.12pp |
| 12 | Isuzu India | 951 | 0.92% | 0.83% | ▲ 0.09pp |
| 13 | PMI Electro | 905 | 0.87% | 0.82% | ▲ 0.05pp |
| 14 | VECV (Eicher) | 607 | 0.59% | 0.52% | ▲ 0.06pp |
| 15 | Pinnacle Mobility Solutions | 465 | 0.45% | 0.25% | ▲ 0.20pp |
Vahan reports manufacturer volumes only as a full-year figure, so the 2025 column is scaled to the same 9 months (Jan–Sep) using that segment's own monthly profile — 0.805 of the full 2025 year.
Commercially registered passenger cars — Motor Cab and Maxi Cab. Segment total 3.36 L units, +28.3% vs 2025.
| # | Manufacturer | 2026 units | 2026 share | 2025 share | Share change |
|---|---|---|---|---|---|
| 1 | Maruti Suzuki | 2,18,097 | 64.91% | 67.17% | ▼ 2.26pp |
| 2 | Hyundai | 35,030 | 10.43% | 9.12% | ▲ 1.31pp |
| 3 | Toyota Kirloskar | 24,319 | 7.24% | 7.20% | ▲ 0.04pp |
| 4 | Mahindra | 17,923 | 5.33% | 7.45% | ▼ 2.12pp |
| 5 | Tata Motors | 11,042 | 3.29% | 2.77% | ▲ 0.52pp |
| 6 | Force Motors | 7,878 | 2.34% | 1.54% | ▲ 0.80pp |
| 7 | Vinfast Auto India | 5,952 | 1.77% | 0.00% | ▲ 1.77pp |
| 8 | Kia India | 4,234 | 1.26% | 1.32% | ▼ 0.06pp |
| 9 | Tata Motors (EV) | 3,444 | 1.03% | 1.29% | ▼ 0.26pp |
| 10 | Honda Cars | 1,868 | 0.56% | 0.75% | ▼ 0.19pp |
| 11 | Tata Motors (PV) | 1,799 | 0.54% | 0.11% | ▲ 0.42pp |
Vahan reports manufacturer volumes only as a full-year figure, so the 2025 column is scaled to the same 9 months (Jan–Sep) using that segment's own monthly profile — 0.728 of the full 2025 year.
Who has the largest two-wheeler market share in India in 2026?
Which car maker gained the most market share in 2026?
Why does market share matter more than sales growth?
How are the segments defined?
Is this retail or wholesale data?
Methodology & source. All figures are vehicle registrations scraped daily from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source used by FADA and industry trackers. Registrations differ from the wholesale dispatch numbers manufacturers announce. Telangana and Lakshadweep are not on Vahan 4 and are excluded. The current month is partial until a few days after month-end. "EV" means battery EVs (Vahan fuels PURE EV + ELECTRIC(BOV)); hybrids are counted separately. Figures may be revised by RTOs. This page is for information only and is not investment advice.
